The decision adopted by the 28 European Union (EU) Member States in June 2012 on the establishment of the banking union expresses clear political support to the idea of common Europe. Is such a pretentious EU project an important historic step towards further integration, particularly in terms...

It has become increasingly clear particularly in this century that through the destructive impacts of financial markets, economic crises are often amplified to proportions which set the entire system at risk. V. Cerra and S.C. Saxena have shown that failures in real economy brought about by...